repayment

Everyday

1. (money) Paying back money that you borrowed. tree →
2. (money) One of a set of regular amounts paid back on a loan, such as the monthly payment on a mortgage or car. tree →
3. Doing something in return for help or harm: «in repayment for your kindness». tree →

In the lessons

In adult life repayments are paid on loans, mortgages and credit cards, usually with extra money called interest. In maths word problems, repayments are equal parts of a total: a 600 dollar loan repaid in 6 repayments means 100 dollars each (if there is no interest). Phrases: «monthly repayments», «make a repayment», «loan repayment», «miss a repayment».

Examples

• Mum and Dad make a mortgage repayment every month. tree →
• The loan has twelve monthly repayments. tree →
• If you miss a repayment, the bank may charge more. tree →
• Tom gave Sam two chocolate bars in repayment for the pen. tree →
• Each repayment is 50 pounds. tree →
• The repayments on the car are quite high. tree →
• She finished the last repayment and owned the bike outright. tree →
• The day for repayment came, but the poor man had not a single copeck. tree →

Note

Countable for single payments («three repayments»), uncountable for the idea («repayment of the loan»). Verb: repay (repaid). In maths: total paid = repayment × number of repayments; with interest, the total paid is more than the money borrowed.